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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

Energy suppliers biggest profits from poor

20/11/2008

Consumer Focus, the new consumer watchdog, has claimed that energy companies are making their biggest profits from poor customers with pre-payment meters.

The watchdog estimates that energy suppliers are making over half a billion pounds in extra charges from such customers.

It also says that around 1,000 pre-payment meters are being installed every day in the homes of customers who have fallen into debt on their energy bills.

According to the BBC, energy regulator Ofgem is putting pressure on energy companies to cut their pre-payment tariffs.

A spokesperson for Debt Advisers Direct said: “It’s an unfortunate fact for people in debt that energy through pre-payment meters can cost more than through typical mains gas or electricity connections. Although they can help households to budget, the added cost is something that needs to be taken into consideration – especially by those who have previously been pushed into debt by their bills.

“Some households are not given the choice once they have fallen into debt, though – and those people may feel it is unfair that heating their home becomes more expensive. They will hope that this announcement from Consumer Focus could encourage energy companies to reduce their pre-payment prices.”

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according